**Dubai**: Inception has signed a Memorandum of Understanding with Fairmarkit to integrate AI-powered sourcing technology into its procurement ecosystem. This collaboration aims to modernise enterprise sourcing in the MENA region, optimising efficiency and nurturing supplier relationships.
Inception, a G42 company that focuses on AI-native products, has entered into a Memorandum of Understanding (MoU) with Fairmarkit, a prominent U.S.-based firm recognised for its leadership in procurement sourcing automation. The MoU was formalised during the IDC Middle East CIO Summit 2025, a significant event for technology and innovation in the region. Under this agreement, the integration of Fairmarkit’s AI-powered autonomous sourcing technology is set to enhance Inception’s AI-driven procurement ecosystem—branded as (In)Business Procurement. This initiative aims to modernise enterprise sourcing throughout the Middle East and North Africa (MENA) region, creating a more intelligent and efficient procurement framework.
The collaboration is positioned as a substantial advancement in the digitisation of procurement operations, demonstrating both companies’ commitment to fostering AI-driven innovations in the enterprise sector. The (In)Business Procurement solution streamlines processes by embedding Fairmarkit’s autonomous sourcing capabilities into Inception’s existing Contracts & Suppliers modules. It is designed to work seamlessly with leading procurement platforms such as SAP, Coupa, and Oracle, allowing businesses to boost efficiency, optimise costs, nurture supplier relationships, and ensure robust contract compliance.
Commenting on the partnership, Ashish Koshy, Chief Operating Officer of Inception, expressed enthusiasm about the initiative, stating, “We are thrilled to partner with Fairmarkit on this transformative initiative.” He articulated that this collaboration marks a milestone in the evolution of enterprise procurement within the MENA region. Koshy added that the combination of Fairmarkit’s innovative sourcing solutions and Inception’s advanced AI capabilities not only enhances procurement efficiency but also fundamentally reimagines the procurement process for businesses.
The AI-driven solution, designed with scalability and adaptability in mind, aims to reduce inefficiencies, optimise workflows, and drive strategic sourcing decisions. By leveraging autonomous sourcing and data intelligence, organisations can uncover new cost-saving opportunities while improving decision-making processes and overall operational efficiency.
Kevin Frechette, CEO and Co-Founder of Fairmarkit, described the partnership as a “pivotal moment for the MENA region’s procurement landscape.” He highlighted that the collaboration heralds an AI-driven solution capable of disrupting traditional procurement methodologies. Frechette remarked, “Our combined expertise will empower businesses to make faster, smarter, and more strategic sourcing decisions.” He further indicated that this initiative is not merely a solution but a significant step towards a new epoch in procurement practices, aiming to redefine how enterprises in MENA achieve operational excellence.
Source: Noah Wire Services
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